businesses are the main source of growth and development for any country. The today's era is of dynamic nature where things and circumstances can change within less than one second. It becomes totally unpredictable. For business to remain stable or make more grow,  here we need SWOT ANALYSIS there for every business or organization. 

SWOT stands for -

:STRENGTH 

:WEAKNESS 

:OPPORTUNITIES

:THREATS

STRENGTH  - These are capabilities that an organisation have as core competencies to  help it to win over competitors.It become very necessary for every business to recognise the strengths of itself and its products to attract a large no. of customers which is the very survival of the business. 

For example - unique machinery for production, trained and motivated employees, innovative team, etc. 

WEAKNESS - These are the incapabilities which can cause a loss to organization and that advantage can be grabbed by competitor. This can lead to slow down of business. It can cause negative image in public. Hence it becomes necessary to identify and overcome weakness as soon as possible. 

For example - high employees attrition rate, demotivated team, use of outdated techniques, non cooperation and coordination, etc. 

OPPORTUNITIES- These are the those advantages in near future which can help a business to be a gamechanger and become the king of market at the time of grabbing opportunities. 

For Example- opportunity for a car manufacturer when its prices get decrease in annual budget of govt.,in covid time, opportunity for immunity booster products as their demand is rising etc. 

The business should constantly have a vision over its surrounding environment to identify the opportunities for it and get first mover advantage.

  THREAT- These are the factors that can harm the organisation in near future and if the business does not recognise it with time, these can cause a serious loss to business or even can throw it out of the market. So if a business is focusing to grab the opportunities, then it should identify its threats also and be ready for it. 

For Example- new and more efficient technique adopted by our competitor for production, ban on your product by the government, etc.

** An organisation if wants to introduces a new product in market, then SWOT analysis should be done by it to have the good return not the bad consequences. This analysis helps us to know that what we have to attract market, what we have that can affect our market value and  what the market can offer us in future. 

All the well established corporates and other forms of business like partnership and sole proprietor follow this analysis which had became the reason for their success. 

In today's era, if the business without any thinking go for production on the basis of its estimations,this can be its biggest mistake,. Firstly it should know about the market and customers,and this should be the basis of product development and policies formation.

So do the SWOT and be the gamechanger and milestone of the time